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Binance Under Pressure: Nigerian Stakeholders Call for Disclosure of Bribery Official’s Identity


Nigerian stakeholders, led by SIBAN’s executive secretary Rume Ophi, are intensifying pressure on Binance, demanding transparency regarding the identity of alleged bribery.

Ophi stressed how vital it is to back up the accusation with specific names.

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This will help authorities take the right steps against any wrongdoing that occurred.

Bribery Claims Spark Calls for Transparency

Nigerian stakeholders involved in cryptocurrency are caught up in a controversy sparked by Binance’s claim that a Nigerian official attempted to bribe them.

Local stakeholders who were recently interviewed expressed their apprehension about the situation.

They fear that Binance’s allegation, if not addressed transparently, could cast a negative light on Nigeria’s regulatory environment and hinder the growth of its crypto sector.

Rume Ophi, the executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), highlighted a positive aspect of the situation.

Based on the body language of the Nigerian Securities and Exchange Commission (SEC) representative during a May 6 meeting, Ophi believes the government is committed to fostering a thriving crypto industry.

However, Ophi also emphasized the potential for Binance’s accusations to backfire.

He fears that by publicly accusing Nigerian officials of bribery, Binance may be attempting to damage the country’s reputation.

This, in turn, could discourage major international cryptocurrency exchanges from considering Nigeria as a viable market.

Transparency is key, according to Ophi. He urges Binance to provide more details about the alleged bribery attempt, specifically by identifying the individuals involved.

Disclosing this information would help authorities look into the matter thoroughly and might prove that the government didn’t do anything wrong.

Binance CEO Addresses Allegations Amid Nigerian Regulatory Tension

On May 7th, Binance CEO Richard Teng addressed the detention of Tigran Gambaryan, a former IRS agent who led Binance’s compliance team, shedding light on the situation.

Teng revealed that individuals, whose identities remain undisclosed, approached Binance staff with offers to resolve allegations through payment.

Nathaniel Luz, Flincap’s CEO, a crypto platform that provides, expressed doubt that any Nigerian official approached Binance.

Luz stressed the importance of revealing specific names to validate Binance’s claim.

This controversy arises amidst previous statements by the Nigerian SEC, highlighting Binance Nigeria’s lack of registration or regulation.

Additionally, the Central Bank of Nigeria’s governor flagged concerns about suspicious transactions at Binance, heightening scrutiny.

As pressure mounted, Nigerian officials demanded actions from Binance, leading to Gambaryan’s detention along with colleague Nadeem Anjarwalla.

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